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Jan 14, 2013
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if the issue is deficit reduction, getting our deficits sustainable over time, getting our debt in a sustainable place, then democrats and republicans in congress will have a partner with me. we can achieve that and we can achieve it fairly quickly. we know what the numbers are, we know what needs to be done. we know what a balanced approach would take, and we've already done probably more than half of the deficit reduction we need to stabilize the debt and the deficit. there's probably been more pain and drama in getting there than we needed. and so finishing the job shouldn't be that difficult, if everybody comes to the conversation with an open mind and if there's some things like paying our bills should not be out of bounds. i'll take one last question. >> mr. president, i would like to ask you, now that you've reached the end of your first term, starting your second, about a couple of criticisms. one that's long-standing, another more recent. the long-standing one seems to become a truism of sorts, that you and your staff are too insular, that you don't socialize enough. and the
if the issue is deficit reduction, getting our deficits sustainable over time, getting our debt in a sustainable place, then democrats and republicans in congress will have a partner with me. we can achieve that and we can achieve it fairly quickly. we know what the numbers are, we know what needs to be done. we know what a balanced approach would take, and we've already done probably more than half of the deficit reduction we need to stabilize the debt and the deficit. there's probably been...
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Jan 17, 2013
01/13
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those problems this country faces, according to respondents of the latest gallup poll looking at the deficit and the economy and unemployment is far more important. public policy in washington. the president is going after our guns, unveiling the most sweeping set of gun-control proposals and nearly two decades here is this moments. the reson that there is so for the second amendment to prevail despite his assault. the decade-long assault weapons ban, which ran from 1994, it did not work. 1994 was a different year, by the way, then this year, 2013. and the political conditions are quite different because the reality of america is quite different. it is important to look back and think about the fact that in '94, the house, the senate, and the white house were all controlled by democrats. today republicans control just the house as the president likes to constantly remind us. back then president clinton pushed the assault weapons ban as part of a broader crime bill. it was not just an imperious and grabbed, but it was an important piece of legislation, and it was a different time. despite the
those problems this country faces, according to respondents of the latest gallup poll looking at the deficit and the economy and unemployment is far more important. public policy in washington. the president is going after our guns, unveiling the most sweeping set of gun-control proposals and nearly two decades here is this moments. the reson that there is so for the second amendment to prevail despite his assault. the decade-long assault weapons ban, which ran from 1994, it did not work. 1994...
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Jan 16, 2013
01/13
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is for the two sides to get together to come up with a comprehensive debt and deficit reduction plan. the debt ceiling and all around it doesn't really solve the problem. it is a waste of time. adam: let me interrupt you because we have had this debt ceiling essentially part of our discussion for almost 100 years, going back to 1917 with the issue of liberty bonds. now today we talk about the debt ceiling and we talk about its impact, this debate for the people who are watching, and, getting to this craziness we see the market reacting in a way you can't anticipate. what would happen to our 401(k) if congress he said they have to get together, i was thinking two words, "good luck." whether they can't do something? >> if they don't raise the debt ceiling and let's say we get debt downgrades, the market has a fit basically and drops as they did in 2011, all our investments will get hit. the stock market will go down as it did in a big way in the summer of 2011. on the other hand, if they extend the limits, the debt ceiling limit and do something more, maybe not a grand compromise, somet
is for the two sides to get together to come up with a comprehensive debt and deficit reduction plan. the debt ceiling and all around it doesn't really solve the problem. it is a waste of time. adam: let me interrupt you because we have had this debt ceiling essentially part of our discussion for almost 100 years, going back to 1917 with the issue of liberty bonds. now today we talk about the debt ceiling and we talk about its impact, this debate for the people who are watching, and, getting to...
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Jan 17, 2013
01/13
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] [applause] [applause] >> former senators kent conrad and judd gregg lead a discussion on debt and deficit issues like it 8:30 a.m. here on c-span 2. at 1:00 p.m. eastern, new immigration legislation, live from the national press club on c-span 2. >> why did you write a book about your experience? >> it was an important part of history. i felt the fdic perspective should be brought to bear. there had been some other accounts of the crisis that i thought were not completely accurate, especially in terms of what we did and what i did so with the was important for a historical record to present our perspective and also, currently, for people to understand that there were different policy choices, a different policy options and disagreements and that if we want to prevent this crisis from happening again, i really felt the public themselves need to engage more in financial reform and educate themselves better and make it an issue with their elected officials. i wanted to make the book accessible and i had recommendations to help them do that. >> the former head of the federal deposit insurance
] [applause] [applause] >> former senators kent conrad and judd gregg lead a discussion on debt and deficit issues like it 8:30 a.m. here on c-span 2. at 1:00 p.m. eastern, new immigration legislation, live from the national press club on c-span 2. >> why did you write a book about your experience? >> it was an important part of history. i felt the fdic perspective should be brought to bear. there had been some other accounts of the crisis that i thought were not completely...
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Jan 16, 2013
01/13
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that's the deficit. the accumulated annual deficits or shortfalls plus interest make up the national debt. that's more than $16 trillion today. the debt had run up under republican and democratic presidents and congresses. both have had opportunities to tackle it, but it's never politically palatable. president obama formed this simpson/bowles commission, headed by simpson and erskin bowles to cut the debt by $4 trillion over 10 years. critics say president obama has all but ignored it. commission co-head simpson says the growing threat poses a major threat to the u.s. economy. >> where is the tipping point? i don't know where it is, but when it comes, going to be so swift and so savage. >> reporter: obama's plan proposes $360 billion in cuts to medicaid, medicare and other health programs over the next decade. but because costs in those programs are rising fast, the debt would be $6.4 trillion higher in 10 years. the president's budget also proposes cuts to discretionary and mandatory spending that woul
that's the deficit. the accumulated annual deficits or shortfalls plus interest make up the national debt. that's more than $16 trillion today. the debt had run up under republican and democratic presidents and congresses. both have had opportunities to tackle it, but it's never politically palatable. president obama formed this simpson/bowles commission, headed by simpson and erskin bowles to cut the debt by $4 trillion over 10 years. critics say president obama has all but ignored it....
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Jan 19, 2013
01/13
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>> at the end of the day, when we deal with this sequester, we deal with deficit reduction, it has to be in a balanced way. we have always said we are willing to support spending cuts. we put our money where our mouth is with the debt ceiling last summer. many of us on the democratic side voted for $1.2 trillion in spending cuts and got a debt ceiling increase. president obama made it very clear we are not negotiating over the debt ceiling again because we have to pay our bills. we have to give certainty to our economy and we have to focus on deficit reduction in a balanced way so we can protect the middle class and working families. >> doesn't this give the progressive movement an opportunity in the next 90 days to really send the message to congress, leave the big three alone? get your money somewhere else? it would seem to me that the republicans are going to go after that in the next 90 days, make the case that the entitlements are really the problem in all of this. this campaign is going to continue on. >> it will, absolutely, continue on. i think we have to acknowledge that medi
>> at the end of the day, when we deal with this sequester, we deal with deficit reduction, it has to be in a balanced way. we have always said we are willing to support spending cuts. we put our money where our mouth is with the debt ceiling last summer. many of us on the democratic side voted for $1.2 trillion in spending cuts and got a debt ceiling increase. president obama made it very clear we are not negotiating over the debt ceiling again because we have to pay our bills. we have...
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Jan 15, 2013
01/13
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because when interest rates go up, that means the deficit will go up. so we make the problem worse by taking this route if we go down this pathway. >> i want to throw three terms at you that we've had to stomach out in america. debate over the fiscal cliff, the debate over the debt ceiling and the budget show dunn. all three of these very serious. but which is the most serious. >> the debt ceiling could do damage to our countries for decades to come if we hit it and don't expect the problem. this is the most dangerous thing. this is almost a nuclear option. this is really playing with very dangerous things. and one little mistake could be devastating to our country. >> and yet you still come on day after day and smile with me. thank you. always good to see you. >>> by the way, i just want to remind you if you're doing the math, the treasury says it might come up short in its payments as soon as february 15th. ♪ [ male announcer ] some day, your life will flash before your eyes. make it worth watching. introducing the 2013 lexus ls. an entirely new pur
because when interest rates go up, that means the deficit will go up. so we make the problem worse by taking this route if we go down this pathway. >> i want to throw three terms at you that we've had to stomach out in america. debate over the fiscal cliff, the debate over the debt ceiling and the budget show dunn. all three of these very serious. but which is the most serious. >> the debt ceiling could do damage to our countries for decades to come if we hit it and don't expect the...
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Jan 13, 2013
01/13
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we need to reduce the deficit. but, if we are going to grow the economy and get people back to work, we must invest in the future. i wanted to acknowledgement fact that the budget does reduce the deficit by $1.10 trillion. that is real money for most of us. and it is not easy to get there. bringing fiscal stability to the nation in 2017, her primary balance, none of this is easy. the budget does make strategic investments in the future. for many of us in our districts across the country, the focus on energy and evasion of education and infrastructure is important. every business i talked to said to me that we need, we look at, or locate incentives for innovation. do we have what we need to move our products and work force? is there an educated work force? they want to know -- and it starts with -- where is the infrastructure and advantage for innovation? i think we need to talk about that, because otherwise we're just looking at slash and burn, cut spending right now. the budget deficit commission said not a good i
we need to reduce the deficit. but, if we are going to grow the economy and get people back to work, we must invest in the future. i wanted to acknowledgement fact that the budget does reduce the deficit by $1.10 trillion. that is real money for most of us. and it is not easy to get there. bringing fiscal stability to the nation in 2017, her primary balance, none of this is easy. the budget does make strategic investments in the future. for many of us in our districts across the country, the...
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Jan 15, 2013
01/13
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spencer michels asks california governor jerry brown if his fiscal turnaround-- from a $27 billion deficit to a balanced budget-- offers a lesson for the nation. . >> you have to make tough choices. you have to live within your means. that means you have to not do everything you want to but you also have to raise more
spencer michels asks california governor jerry brown if his fiscal turnaround-- from a $27 billion deficit to a balanced budget-- offers a lesson for the nation. . >> you have to make tough choices. you have to live within your means. that means you have to not do everything you want to but you also have to raise more
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Jan 15, 2013
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that's the smallest monthly deficit in five years. some of that is artificial. people pulling transactions forward because they were afraid of higher tax rates in 2013. but for the first three months of 2013, we have a rapidly shrinking fiscal 2013, we have a rapidly shrinking deficit. so we are in a way chasing a vanishing problem. >> which is interesting, and that would allow for some things that are dirty and things that are not so dirty, would completely perhaps get rid of this problem after a while. do you think we're headed for a full stalemate? >> it's such a shame. i think david is right because we have low debt service right now. we're paying less interest on our debt than we had in the reagan and bush administrations before because interest rates are so low. >> but they're going to go up one day. >> but not for several years. i'll say it, we should be borrowing more at 30-year, 3% terms, so we can invest in the long-term growth of this economy. this is not the time for further austerity and cuts. if we were even to consider that right now, it would be
that's the smallest monthly deficit in five years. some of that is artificial. people pulling transactions forward because they were afraid of higher tax rates in 2013. but for the first three months of 2013, we have a rapidly shrinking fiscal 2013, we have a rapidly shrinking deficit. so we are in a way chasing a vanishing problem. >> which is interesting, and that would allow for some things that are dirty and things that are not so dirty, would completely perhaps get rid of this...
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Jan 17, 2013
01/13
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impact of extended deficit financing. the longer term problem is to a very large extent the product of the key entitlement programs that are in a part of part of the nation's safety net for the elderly. slowing the growth of spending in the nation's in title at program can help make these programs secure for current and future workers and we think that's very important. by 2035, there will be only two workers per beneficiary and a typical 65-year-old retiree would have about a 50% longer retirement than had occurred in 1995. this is a very serious issue. currently the social security retirement is a pay-as-you-go system that provides more annual benefits than the payroll tax collectors. if left alone, this eventually will lead to insolvency particularly with the rapidly increasing number of baby boomers retire in every day as was referred to by maya and louis. there isn't time today nor do i have the proven expertise to suggest specific solutions it's important that the contras and the administration analyze acceptable me
impact of extended deficit financing. the longer term problem is to a very large extent the product of the key entitlement programs that are in a part of part of the nation's safety net for the elderly. slowing the growth of spending in the nation's in title at program can help make these programs secure for current and future workers and we think that's very important. by 2035, there will be only two workers per beneficiary and a typical 65-year-old retiree would have about a 50% longer...
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Jan 15, 2013
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he promised to pay down the deficit at least half in his first term. the first two years of his first term he had a democratic congress house and senate. he could have done anything he wanted. instead he put through an $800 billion stimulus bill and a $1.7 trillion obama care. if he wasn't going to address it then, when is he going to address it? he is essentially holding congress hostage right now and the american people with these scare tactics. >> okay, newt gingrich addressed this whole issue on "cbs this morning" and i'll read you what he said. "it isn't a smart fight for congressional republicans to pick, because in the end, it's a threat they can't sustain. no one is going to default, no one will allow the united states to not pay its bills, no one is going to accept the economic costs. it rallies the entire business community to the president's side." so even newt gingrich says this isn't a wise fight to pick. you may feel strongly about spending cuts but this isn't the right time to fight. >> when is the right time? when is the right time? bec
he promised to pay down the deficit at least half in his first term. the first two years of his first term he had a democratic congress house and senate. he could have done anything he wanted. instead he put through an $800 billion stimulus bill and a $1.7 trillion obama care. if he wasn't going to address it then, when is he going to address it? he is essentially holding congress hostage right now and the american people with these scare tactics. >> okay, newt gingrich addressed this...
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Jan 17, 2013
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that difference represents a deficit of $1.1 trillion. so you can see we are very close to being at a 60 year high in spending, and very close to being at a 60 year low in revenue. so i would say to those who say we just have a spending problem, i think you got that half right. i think we've also got a revenue problem. that needs to be addressed. let's go to the next slide if we can. the result of these deficits and debt is that we now have a gross debt that is more than 100% of our gross domestic product. you can see right in the middle of that graph, in 2012, the gross debt of the united states has now reached 104%. why does that matter? the best academic research, a book by rogoff of harvard, reinhard, the university of michigan i think she was when she did the study, look at 200 use of economic history. and concluded once you get a gross debt of more than 90% of your gross domestic product, your future economic prospects are dramatically reduced. future economic growth is reduced anywhere from 25 to 33%. so these are not just numbers
that difference represents a deficit of $1.1 trillion. so you can see we are very close to being at a 60 year high in spending, and very close to being at a 60 year low in revenue. so i would say to those who say we just have a spending problem, i think you got that half right. i think we've also got a revenue problem. that needs to be addressed. let's go to the next slide if we can. the result of these deficits and debt is that we now have a gross debt that is more than 100% of our gross...
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Jan 14, 2013
01/13
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if the issue is deficit reduction, getting our deficits sustainable over time, getting our debt in a sustainable place, then democrats and republicans in congress will have a partner with me. we can achieve that, and, you know, we can achieve it fairly quickly. we know what the numbers are. we know what needs to be done. we know what a balanced approach would take, and we've done probably more than half of the deficit reduction we need to stabilize the debt and the deficit. there's probably been more pain and drama in getting there than we needed, and so finishing the job shouldn't be that difficult if everybody comes to the conversation with an open mind and if we recognize that there's some things like not paying our bills that should be out of bounds. all right? i'm going to take one last question. jackie collins. yeah. >> i would like to ask you now that you've reached the end of your first term, starting your second, about a couple of criticisms. one that's longstanding. another more recent. the long-standing one seems to have become a truism of sorts that you and your staff are
if the issue is deficit reduction, getting our deficits sustainable over time, getting our debt in a sustainable place, then democrats and republicans in congress will have a partner with me. we can achieve that, and, you know, we can achieve it fairly quickly. we know what the numbers are. we know what needs to be done. we know what a balanced approach would take, and we've done probably more than half of the deficit reduction we need to stabilize the debt and the deficit. there's probably...
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Jan 18, 2013
01/13
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you were talking about debt and deficit and government spending 15, 20 years ago when nobody was that much focused on it in washington, but now they really are. here is a chance for you to take all you learned, what you learned on the way up, on the way down, in congress, in the governorship, and apply it to what is really the debate of our times. if you look, we're having a new fiscal crisis it seems every couple months. we had the debt ceiling, the fiscal crisis, and that's really the tip of the iceberg that is coming our way based on unbelievable demographics and unbelievably unsustainable government spending. what i want to do is take what i learned and hopefully apply it to again a great conundrum that now exists in washington, which is how do we get our financial house in order? >> i wish you all the very best. thank you for joining me again tonight. it's a pleasure to talk to you as it was last time. i genuinely wish you well. i'm glad you're making another go at this. good luck with it. >> i appreciate it, thanks. >>> a critic who says newtown changed everything, but the nra d
you were talking about debt and deficit and government spending 15, 20 years ago when nobody was that much focused on it in washington, but now they really are. here is a chance for you to take all you learned, what you learned on the way up, on the way down, in congress, in the governorship, and apply it to what is really the debate of our times. if you look, we're having a new fiscal crisis it seems every couple months. we had the debt ceiling, the fiscal crisis, and that's really the tip of...
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Jan 20, 2013
01/13
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the budget hasn't been balanced in multiyears and the deficit is over a trillion dollars . every man, woman and child. i had my fifth grandchild and that baby was born with $50,000 worth of debt if we were to pay it off today. every man and woman and child has that worth of debt. that is uncon69able and we have to stop kicking the can down the road and we have to solve the problem and do whatever it takes to get us back on the fiscal path again. >> i want to talk about it now you come back and see a different thing. what is the biggest difference you are seeing coming back the second time? >> we passed a lot more rules on ourselves. we reduced our budget and exact opposite is happening to our government. it is gone crazy with regulation and restriction, but the part that is most alarmming is the amount of money that we are print one day will explode. we can't continue to print money. we have fancy names for it. it is quantitative easing and it is really printing money. wrim bay way has a trillion dollar note and you buy a loaf of bread everybody is happily singing . we will
the budget hasn't been balanced in multiyears and the deficit is over a trillion dollars . every man, woman and child. i had my fifth grandchild and that baby was born with $50,000 worth of debt if we were to pay it off today. every man and woman and child has that worth of debt. that is uncon69able and we have to stop kicking the can down the road and we have to solve the problem and do whatever it takes to get us back on the fiscal path again. >> i want to talk about it now you come...
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reduction at this is so cool the part of the gods of the deficit reduction in one sentence which would give consumers the ability to opt into it into a government run health insurance plan in the obamacare exchanges bill sponsored congresswoman jan schakowsky said of the bill quote the public option deficit reduction act will give health care consumers more choices and lower their premiums and by providing a low cost alternative to private insurance it would put pressure on all insurers to lower their premiums in order to compete so is in the public option the best way to lower health care costs the united states at no why not we are already at a point where we're looking at a bill to fix a problem that's already been created as we saw law just this week democrats and republicans in the in congress are faced with having to update the mandate because as it stands they're not going to be able to get enough money to fully fund the system that they've already so let's toss the public option in there it's going to be less expense is the ready is forcing or when the make a purchase and it's
reduction at this is so cool the part of the gods of the deficit reduction in one sentence which would give consumers the ability to opt into it into a government run health insurance plan in the obamacare exchanges bill sponsored congresswoman jan schakowsky said of the bill quote the public option deficit reduction act will give health care consumers more choices and lower their premiums and by providing a low cost alternative to private insurance it would put pressure on all insurers to...
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Jan 21, 2013
01/13
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when you look at the agenda now, there's the economy, the deficit, gun control, immigration. what should the president do first to show republicans he's not looking for revenge or looking to pick fights? >> i would say the budget. to make an honest attempt on both sides to try to reduce spending or reduce the growth in spending. that to me is the one place where there is enough on the table that both sides can make progress if they want to. you get into gun control, i basically support the president's program, but he's not going to get very much support at all among republicans for that. that's a good political point for him, but i don't see it going anywhere. as far as the illegal immigration or making it legal or whatever, reform, i would say there's an opportunity, people like marco rubio, for instance, and others, and also you have the chamber of commerce, you have some republican vested interest. i would say the budget and immigration are the two areas, spending and immigration. >> can he get through some simple things on gun control, if not a ban on assault weapons. tha
when you look at the agenda now, there's the economy, the deficit, gun control, immigration. what should the president do first to show republicans he's not looking for revenge or looking to pick fights? >> i would say the budget. to make an honest attempt on both sides to try to reduce spending or reduce the growth in spending. that to me is the one place where there is enough on the table that both sides can make progress if they want to. you get into gun control, i basically support...
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Jan 14, 2013
01/13
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not when it comes to our nation's finances, but this trust deficit in washington. the republicans, you have the president, doing this, boom, and just how is this even going to play out over the next couple of weeks? >> well, you have the debt ceiling, which is the current fight. and what you have is confrontation, not conversation. how is it going to play out? again, the president believes he has the political high ground now and he believes he's -- he believes his position is right. that you don't want to negotiate over the debt ceiling, let's have a bigger conversation. the republicans, they control the house of representatives, they still have a decent chunk of votes, the democrats control the senate, they say no way, sir. and so you have this fight over the debt ceiling, but it is about bigger issues. the debt ceiling has nothing to do with immigration reform, nothing to do with the proposals on gun control, nothing to do with anything else the president might want to do in his second term, but guess what, it does affect the climate in washington. and the fact
not when it comes to our nation's finances, but this trust deficit in washington. the republicans, you have the president, doing this, boom, and just how is this even going to play out over the next couple of weeks? >> well, you have the debt ceiling, which is the current fight. and what you have is confrontation, not conversation. how is it going to play out? again, the president believes he has the political high ground now and he believes he's -- he believes his position is right. that...
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Jan 15, 2013
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he said trimming the budget deficit should be a different discussion separate from the debt ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills, and we are not a deadbeat nation. >> clearly house speaker john boehner thinks differently. he responded by saying, quote, the american people do not support raising the debt ceiling without reducing government spending at the same time. >>> these pens are designed to be used only by one person, but an investigation discovered that many of them were used on multiple people. >>> are you in hawaii or going there anytime soon? surfers, beware. check out this video. it's a real-life jauss. two sharks were swimming dangerously close to the show. can you believe it? look at that. you could wade in and be bitten, eaten. last year there were a total of 11 shark attacks in hawaii. >> that's what i call dangerously close. >> oh, my goodness. >> so some people in the southeast waking up to the dual danger of flooding and ice. alexandra steele in the weather center. good morning. >
he said trimming the budget deficit should be a different discussion separate from the debt ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills, and we are not a deadbeat nation. >> clearly house speaker john boehner thinks differently. he responded by saying, quote, the american people do not support raising the debt ceiling without reducing government spending at the same time. >>> these pens are...
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Jan 15, 2013
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they created the structural deficit -- >> neil: wait a minute. we can go back in time and talk about 9/11 and a recession was taking hold. i don't want to go back in history. i want to ask thufinaly, would you agree that if we get a republican president and he or she is demanding the same prerogative you want to give this president right now, you, simon, would be on board and say go for it. >> i think we should eliminate the vote over the debt ceiling, both party, both presidents for all time -- >> neil: you would give a republican the same eye am going to save this tape. when it comes to that, i am going to have you back. >> hopefully, that won't be for a long time. >> neil: i thought you would say that, touche. >> okay. >> neil: from help out of d.c. to big doings in d.c., the city is getting readyr spiffy for a piece of history. the president's inauguration on monday. since january 20 falls on a sunday, the president will be privately sworn in that day. but the hoopla is all on monday, across the capitol. and we will be there again. probably n
they created the structural deficit -- >> neil: wait a minute. we can go back in time and talk about 9/11 and a recession was taking hold. i don't want to go back in history. i want to ask thufinaly, would you agree that if we get a republican president and he or she is demanding the same prerogative you want to give this president right now, you, simon, would be on board and say go for it. >> i think we should eliminate the vote over the debt ceiling, both party, both presidents...
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Jan 20, 2013
01/13
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you sll have an $800 billi deficit. it would likely shrink the ecomy so you're not would b be smaller. we're getting to the point -- we cannot tax ouray out. that is why we wilill be downgraded.. >> that is it for our roundtable. we will be back with some closing notes after the break. >> thank you for joining us. you have options on how to connect with "washington business report." twter, facebook, and youan find a streaeamingersi of the show on wjla.com. we hope to see you back again next sunday. thank you for joining us. ♪ ♪ ♪ ♪ [ multiple sounds making melodic tune ] ♪ ♪ [ male announcer ] at northrop grumman, every innovation every solution comes together for a single purpose -- to make the world a safer place. that's the value of performance. northrop grumman. o0 c1 we're sitting on a bunch of shale gas. there's natural gas under my town. it's a game changer. ♪ ♪ it means cleaeaner, cheaper american-made e energy. but we've got to be careful how we get it. design the wells to be safe. thousands of
you sll have an $800 billi deficit. it would likely shrink the ecomy so you're not would b be smaller. we're getting to the point -- we cannot tax ouray out. that is why we wilill be downgraded.. >> that is it for our roundtable. we will be back with some closing notes after the break. >> thank you for joining us. you have options on how to connect with "washington business report." twter, facebook, and youan find a streaeamingersi of the show on wjla.com. we hope to see...
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Jan 21, 2013
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action by the government and when you look at the biggest issue that we face of this era, it's the deficit. it's the trillion dollars of debt and the president didn't really talk about that. he talked about, we're not a nation of takers but that we've become a nation of debtors. >> the president clearly is a smart man, a smart politician. he's also a writer, a thoughtful person. if that is the speech, if the speech as ari described, why would he decide to give that speech? what's the political goal? >> this is the last time he's getting sworn in as president of the united states. that's why. i think it's martin luther king day. martin luther king was courageous. martin made this point earlier that perhaps the president had some sense of guilt about not doing gun control and that it took newtown to get him to do that and so this is the speech you get to give once and i think there may have been a sense he wanted to be aggressive because he could and because he had to set out what he believes he said, i'm not going to get all of it, don't let the perfect -- nothing can be perfect. but i do b
action by the government and when you look at the biggest issue that we face of this era, it's the deficit. it's the trillion dollars of debt and the president didn't really talk about that. he talked about, we're not a nation of takers but that we've become a nation of debtors. >> the president clearly is a smart man, a smart politician. he's also a writer, a thoughtful person. if that is the speech, if the speech as ari described, why would he decide to give that speech? what's the...
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Jan 16, 2013
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two months, three months, four months and more if need be when he wants to do big things on debt and deficit, big things on medicare, comprehensive immigration reform, and will be in a fight with republicans over that? this is going to be a test of how long the president is prepared to wage what -- to get hard stuff done to get an assault weapons ban, to get the magazine clips, universal background check is easier, but the president has to dig in and fight and it will be fascinating to watch. >> this is a statement we have gotten from the nra, national rifle association, part of the statement. we look forward to working with congress on a bipartisan basis to find real solutions to protecting america's most valuable asset, our children. attacking firearms and ignoring children is not a solution to the crisis we face as a nation, only honest, law abiding gun owners will be affected and our children will remain vulnerable to the inevitability of more tragedy. to the inevitability of more tragedy, john king, to the latter part of that statement, congress could enact everything that the president
two months, three months, four months and more if need be when he wants to do big things on debt and deficit, big things on medicare, comprehensive immigration reform, and will be in a fight with republicans over that? this is going to be a test of how long the president is prepared to wage what -- to get hard stuff done to get an assault weapons ban, to get the magazine clips, universal background check is easier, but the president has to dig in and fight and it will be fascinating to watch....
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Jan 15, 2013
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what's amazing is that people are now more concerned with the deficit and our dysfunctional government than they are with unemployment. the first time since 2009. >>> there's a troubling new statistic from the department of defense involving u.s. service members. the number of suicides in the military surged to a record high of 349 last year. that's according to the associated press. that exceeds the 295 americans who died fighting in afghanistan in 2012. >>> the military has launched a number of new programs to improve mental health services and increase awareness of the problem which the pentagon has now labeled an epidemic. >>> there's an unlikely voice entering the obesity debate. with local governments considering measures similar to mayor bloomberg's crackdown on large sugary drinks in new york city, soda giant coca-cola now stepping into the conversation. coke has unleashed a new ad campaign that defends its record while acknowledging the company's role when it comes to america's weight problem. nbc's chris jansing with the details. ♪ ♪ teach the world to sing to perfect har
what's amazing is that people are now more concerned with the deficit and our dysfunctional government than they are with unemployment. the first time since 2009. >>> there's a troubling new statistic from the department of defense involving u.s. service members. the number of suicides in the military surged to a record high of 349 last year. that's according to the associated press. that exceeds the 295 americans who died fighting in afghanistan in 2012. >>> the military has...
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Jan 16, 2013
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deficit now exceeds 100% of debt gdp ratio. so we may be experiencing the initial tax of extended deficit financing. the longer-term problem is to a very large extent a product of key entitlement programs that are an important part of the nation's safety net for the elderly. the growth of spending in the nation's entitlement programs can help a program secure for current and future workers than we think that's very important. by 2035, there will be only two workers per beneficiary to 60 federal retiree who have 50% longer retirement than encouraging 1895. so this is a serious issue. currently the social security retirement is a pay-as-you-go system that provides for and no benefits and tax collects. this will lead to insolvency, particularly with the increasing number of baby boomers retiring every day is referred to by maia and lewis. others news, nor do i have the program make expertise necessary to suggest solutions, it's important that congress and allies acceptable methods to assure that these programs to retirees. reforms
deficit now exceeds 100% of debt gdp ratio. so we may be experiencing the initial tax of extended deficit financing. the longer-term problem is to a very large extent a product of key entitlement programs that are an important part of the nation's safety net for the elderly. the growth of spending in the nation's entitlement programs can help a program secure for current and future workers than we think that's very important. by 2035, there will be only two workers per beneficiary to 60 federal...
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Jan 15, 2013
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would surplus at sometimes but ordinarily deficits were small and manageable. what's different today we're not necessarily talking about funding or not borrowing for disaster, we're borrowing for everything else and that puts us in this new and frankly uncomfortable position. if we had taken care of our underlying financial and fiscal needs and paid for the operation of this government without borrowing huge sums of money we wouldn't have to have this conversation. we've undermined our own ability for our own people. imagine the united states of america being in the circumstance it is today we have to ask other countries to lend us money so we can take care of our own. that's an embarrassment to me. i'm not happy to be in this position. it's not because of what happened in sandy, it's because of what happened before we got to sandy. >> congressman mick mulvaney nice to talk to you. makes an excellent point at the same time. if you are a person affected by sandy many folks in our state of new jersey you hear that, this is closing the barn door after the horse ha
would surplus at sometimes but ordinarily deficits were small and manageable. what's different today we're not necessarily talking about funding or not borrowing for disaster, we're borrowing for everything else and that puts us in this new and frankly uncomfortable position. if we had taken care of our underlying financial and fiscal needs and paid for the operation of this government without borrowing huge sums of money we wouldn't have to have this conversation. we've undermined our own...
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Jan 15, 2013
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down and would pay down the deficit. guest: i like the point you are making. a very close friend of mind in scranton is a jeep dealer. and he was going to sell a cherokee in beijing, it costs about $100,000 which is outrageous. they add all sorts of import and do the fees and that just will not happen here. we need to rethink some of these trade imbalances. for example, of the note to the big box retailer and you can see the big box retailers and the countries that do not have strict labor laws, workplace safety laws, environmental regulations to protect, in a sensible fashion, the economy. foreign countries can sell them cheaper the in this country and i think that applies to automobiles as well. maybe the way to have these sensible regulations is to have a sensible tax along the line you are talking about. host: we are talking with freshman democrat from pennsylvania, rep cartwright. next caller. caller: the definition of the fault is not being able to pay your bills. -- the definition of default is not being able to p
down and would pay down the deficit. guest: i like the point you are making. a very close friend of mind in scranton is a jeep dealer. and he was going to sell a cherokee in beijing, it costs about $100,000 which is outrageous. they add all sorts of import and do the fees and that just will not happen here. we need to rethink some of these trade imbalances. for example, of the note to the big box retailer and you can see the big box retailers and the countries that do not have strict labor...
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Jan 14, 2013
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. >> reporter: president obama stating very clearly today that he will not negotiate deficit reduction, tax increases and spending cuts attached to the debt ceiling. this of course does follow that bruising battle the year before last, where he did negotiate on the issue, and the u.s. nearly went to the brink of default. he said that congress has to pay the bills that it's already racked up. >> you don't go out to dinner and then, you know, eat all you want and then leave without paying the check. and if you do, you're breaking the law. and congress should think about it the same way that the american people do. you don't -- now, if congress want, to have a debate about maybe we shouldn't go out to dinner next time, maybe we should go to a more modest restaurant, that's fine. that's the debate that we should have. >> reporter: in this press conference that was called last minute in the east room, president obama said he will negotiate a deal on deficit reduction but not, as he put it, quote, with a gun to the head of the american people. as you know, joe, republicans are saying they're
. >> reporter: president obama stating very clearly today that he will not negotiate deficit reduction, tax increases and spending cuts attached to the debt ceiling. this of course does follow that bruising battle the year before last, where he did negotiate on the issue, and the u.s. nearly went to the brink of default. he said that congress has to pay the bills that it's already racked up. >> you don't go out to dinner and then, you know, eat all you want and then leave without...
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Jan 17, 2013
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talking about debt, deficit, government spending, 15, 20 years ago when no one was much focused on it here is a chance to take what you learned on the way up, what you learned on the way down. what you learned in congress before, the governorship and apply it to the debate of our time. >>> piers morgan will have an exclusive interview at 10:00 p.m. eastern on cnn. >>> quint se conrad bain, the d different strokes, has died. only one surviving member, willis. >> such a great show. you think of all of the drama cast members had over the years. >> i don't remember. i don't think i was born then. >> that show was a long time ago. >> amazing. >>> still ahead this morning on "starting point," hottest pregnant sri lankan, hottest indian chick. just a document categories in the "qq" hottest women of the millennium issue. we'll talk about that straight ahead. >>> and the girlfriend of notre dame's linebacker manti te'o died, millions came to his side. it was all a hoax. it wasn't caught and why not? mark greenberg and mark schlerath will join me to talk about that, straight ahead. officeyour b
talking about debt, deficit, government spending, 15, 20 years ago when no one was much focused on it here is a chance to take what you learned on the way up, what you learned on the way down. what you learned in congress before, the governorship and apply it to the debate of our time. >>> piers morgan will have an exclusive interview at 10:00 p.m. eastern on cnn. >>> quint se conrad bain, the d different strokes, has died. only one surviving member, willis. >> such a...
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we just looked at some of the president's numbers op deficit reduction. we'll talk about his news cop france today on that topic and the debt ceiling with the fox all-stars when we come back. [ ship horn blows ] no, no, no! stop! humans. one day we're coming up with the theory of relativity, the next... not so much. but that's okay -- you're covered with great ideas like optional better car replacement from liberty mutual insurance. total your car and we give you the money to buy one a model year newer. learn about it at libertymutual.com. liberty mutual insurance. responsibility. what's your policy? >>> the issue here is whether or not america pays its bills. we are not a deadbeat nation. if congressial republicans refuse to pay america's bills op time, social security checks and veteran benefits will be delayed. we might not be able to pay our troops, or honor contracts with the small business owners. food inspeckors, air traffic controllers. specialist wos track down loose nuclear teles wouldn't get their paychecks. invesors around the world will ask i
we just looked at some of the president's numbers op deficit reduction. we'll talk about his news cop france today on that topic and the debt ceiling with the fox all-stars when we come back. [ ship horn blows ] no, no, no! stop! humans. one day we're coming up with the theory of relativity, the next... not so much. but that's okay -- you're covered with great ideas like optional better car replacement from liberty mutual insurance. total your car and we give you the money to buy one a model...
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Jan 19, 2013
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he is going to have to talk about more deficit reduction. they will do a will little partying this weekend they real lives it's right back to work, bill. >> word of a solution to prevent the united states from defaultingen its debt. the house majority leader eric cantor saying that lawmakers will vote next week on a short-term plan to let the government borrow more money effectively raising the debt ceiling. the deal not all worked out just yet. but apparently it this will not require the spending cuts that house republicans had wanted. just released fox news poll finds that 69% favor raising the debt limit only if there are major spending cuts involved. and 23% say it's reckless not to raise it regardless. the poll also shows more than 8 in 10 think government spending is out of control. only 11% believes it's being managed carefully. mike immanuel tracking developments on the hill tonight. what's behind this house republican plan. >> bill, a lot of g.o.p. frustration has been based on the fact the senate has not passed a budget. so republi
he is going to have to talk about more deficit reduction. they will do a will little partying this weekend they real lives it's right back to work, bill. >> word of a solution to prevent the united states from defaultingen its debt. the house majority leader eric cantor saying that lawmakers will vote next week on a short-term plan to let the government borrow more money effectively raising the debt ceiling. the deal not all worked out just yet. but apparently it this will not require the...
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Jan 13, 2013
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. >> we have dialogue about the deficit and we have simpson bowles which everybody ignores, and i know that you have written in the op-ed what is reasonable, and what is reasonable in terms of gun control when it comes to states who understand the gun culture and how deeply it is embedded into the culture of some of the states? >> well, it has to be a little bit of the spectrum like your show, but it has to be from both ends of the spectrum and in tend the duly elected officials get together with an open mind and make decisions based on the people they represent. that is where no labels is so important because we have the politics of the right and the left and the center, and with we have forgotten the politics of all problem solving and representing the people in all that we do. what we are doing today is not normal and for the younger generation growing up seeing the way that politics is playing out is not the norm. that is why joe and i coming from the backgrounds we do, you get the right and the left in a roop wheth room and whether it is on guns or anything else,ing what is the pa
. >> we have dialogue about the deficit and we have simpson bowles which everybody ignores, and i know that you have written in the op-ed what is reasonable, and what is reasonable in terms of gun control when it comes to states who understand the gun culture and how deeply it is embedded into the culture of some of the states? >> well, it has to be a little bit of the spectrum like your show, but it has to be from both ends of the spectrum and in tend the duly elected officials get...
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Jan 15, 2013
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the deficit. so it shouldn't be surprising, given all this talk, that the american people think washington is hurting, rather than helping, the country at the moment. they see their representatives consumed with partisan brinksmanship over paying our bills, while they overwhelmingly want us to focus on growing the economy and creating more jobs. so let's finish this debate. let's give our businesses and the world the certainty that our economy and our reputation are still second to none. we pay our bills. we handle our business. and then we can move on -- because america has a lot to do. we've got to create more jobs. ofve got to boost the wages those who have work. we've got to reach for energy independence. we've got to reform our immigration system. we've got to give our children the best education possible, and we've got to do everything we can to protect them from the horrors of gun violence. and let me say i'm grateful to vice president biden for his work on this issue of gun violence and fo
the deficit. so it shouldn't be surprising, given all this talk, that the american people think washington is hurting, rather than helping, the country at the moment. they see their representatives consumed with partisan brinksmanship over paying our bills, while they overwhelmingly want us to focus on growing the economy and creating more jobs. so let's finish this debate. let's give our businesses and the world the certainty that our economy and our reputation are still second to none. we pay...
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Jan 15, 2013
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the deficit. so it should not be surprising, given all the talk, the it the american people think washington is hurting rather than helping the country at the moment. they see their representatives concerned over paying the bills while they overwhelmingly want to focus on growing the economy and creating more jobs. so let's finish this debate and give it businesses and the world the certainty our economy and reputation are still second to none of. we pay our bills. we handle our business, and then we can move on, because america has a lot to do. we have to create more jobs, boost the wages of those that have worked and reached for energy independence, reformed immigration system. we have to give our children the best education possible and do everything we can to protect them from the horrors of gun violence. i am grateful to vice president biden for his work on this issue of gun violence and for his proposals, which i will review later today and address in the next few days and intend to vigorous
the deficit. so it should not be surprising, given all the talk, the it the american people think washington is hurting rather than helping the country at the moment. they see their representatives concerned over paying the bills while they overwhelmingly want to focus on growing the economy and creating more jobs. so let's finish this debate and give it businesses and the world the certainty our economy and reputation are still second to none of. we pay our bills. we handle our business, and...
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the deficit. there has probably been more pain and drama in getting there than we needed. so finishing the job shouldn't be that difficult if everybody comes to the conversation with an open mind and if we recognize that there's some things like not paying our bills that should be out of bounds. all right? i'm going to take one last question. jackie colmes. >> mr. president. >> yeah. >> i like to ask you, now that you reached the end of your first term, starting your second, about a couple of critsims. one longstanding, another more recent. the longstanding one seems to become a truism of sorts that you and your staff are too insular. that you don't socialize enough. and the second, more recent criticism that your team taking shape knit diverse, isn't as diverse as it could be or even was in terms of getting additional voices, gender, race, ethnic diversity. i would like you to address both of those. >> let me take the second one first. you know, i'm very proud in the first four years we had as di
the deficit. there has probably been more pain and drama in getting there than we needed. so finishing the job shouldn't be that difficult if everybody comes to the conversation with an open mind and if we recognize that there's some things like not paying our bills that should be out of bounds. all right? i'm going to take one last question. jackie colmes. >> mr. president. >> yeah. >> i like to ask you, now that you reached the end of your first term, starting your second,...
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Jan 17, 2013
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he is a deficit hawk. more important than that he is a thoughtful and conscious -- voice of a conscious for the senate throughout his term on fiscal responsibility. we worked together in a very effective way to try to bring some sort of bipartisan effort into the requirement that we do something about the debt. it was really, as was mentioned, an idea that we came up with on a long plane ride i think to central america to put together a commission that then threw into the simpson bowls proposal that has become the defining memo for the effort to try to get that is under control. is fond of quoting a friend of his, the foreign minister of australia. we met a few months ago who said to him the united states is one debt deal away from leading the world out of fiscal chaos and disruption. we are. we truly are. we are a nation on the brink of massive economic expansion. from the place that can't is from, north dakota, you see the change in the paradigm on energy. we will go from an important country to exportin
he is a deficit hawk. more important than that he is a thoughtful and conscious -- voice of a conscious for the senate throughout his term on fiscal responsibility. we worked together in a very effective way to try to bring some sort of bipartisan effort into the requirement that we do something about the debt. it was really, as was mentioned, an idea that we came up with on a long plane ride i think to central america to put together a commission that then threw into the simpson bowls proposal...